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Hines selected as developer for 20-acre Project Elevate site in Elk Grove

Published on August 18, 2022

Houston-based Hines has come on board as the developer for Elk Grove’s bid at creating an urban-style development in the heart of the city. Elk Grove City Council voted in favor earlier this month of an agreement with Hines for a 20-acre site that the city has dubbed Project Elevate, with housing, retail, office and other components.

Scott Kingston, a senior vice president with Turton Commercial Real Estate, said though dozens of developers nationwide expressed interest in the project, Hines had some attributes that made them the best choice.

On the southeast corner of Big Horn and Elk Grove boulevards, Project Elevate would be developed in two phases, under Hines’ proposal. About 300 apartments, the specialty grocery store, hotel and some retail and parking would be in the first phase, with the balance in the rest.

Source: Sacramento Business Journal

Pappas Investments adds to Midtown holdings with $2 million purchase

Published on July 22, 2022

Records show an entity affiliated with Pappas Investments bought 2020 K St., an empty single-story commercial building, for $2 million in late June. Pappas said the only plan for 2020 K St. is to update the property and look to lease it. With a new bike store going in nearby and the building just down the block from the popular Lavender Heights nightlife area, it was a good one to invest in, he said.

Turton Commercial Real Estate brokered the property sale.

Source: Sacramento Business Journal

Vacant Capitol Mall property hits the market

Published on July 19, 2022

Turton Commercial Real Estate began marketing this week for 301 Capitol Mall in Downtown Sacramento, a full city block of 2.39 acres.

“There’s no more valuable piece of real estate than that,” said Turton Commercial CEO Ken Turton, citing its prominence, location and scarcity.

Those expressing interest envisioned a project of either strictly multifamily or multifamily/hospitality, both with a retail component, he said. That’s a shift from what’s been proposed for the site over the last decade: high-rise office towers with a smattering of residential and retail space.

Source: Sacramento Business Journal

 

Pazza Notte restaurant planned for former Buckhorn space in Midtown

Published on July 2, 2022

Pazza Notte has a location in Manhattan that opened in 2000. The restaurant’s recipes are inspired by Italian and American comfort food. Nord is planning to fill a site at 1801 L St. in Sacramento, a 2,891-square-foot space formerly occupied by the Buckhorn restaurant chain. The restaurant will feature a brick oven and has three outdoor patio spaces that provide for outdoor dining options. Nord said the Midtown neighborhood was perfect for the concept.

Turton Commercial Real Estate represented both the landlord, SKK Developments, and the tenant in the deal. “The moment I met Tove and Carlo I knew they would become a tremendous success and a fixture of Midtown’s restaurant scene,” said Scott Kingston, senior vice president with Turton Commercial, in a news release.

Source: Sacramento Business Journal

Legal challenges over, Trackside Center in Davis up for sale

Published on June 3, 2022

Trackside Center would be a four-story, 56,881-square-foot building, with 27 apartments and 7,320 square feet of ground-floor retail space. The listing brochure, from Turton Commercial Real Estate, notes the project could be developed as condos if a buyer decided to go that route.

Turton Commercial Senior Vice President Scott Kingston, one of the listing brokers, said a buyer would get a ready-to-go project in a city with both consistently high demand for housing and a high barrier to producing it.

Source: Sacramento Business Journal

D&S plans big new Midtown project – but not right away

Published on March 21, 2022

The Sacramento-based infill developer doesn’t own, yet, all of the parcels for the proposed K21 project, which would have 296 apartments above 8,000 square feet of commercial space on the northwest corner of 21st and K streets in Midtown.

According to the application, K21 would be an eight-story, 250,595-square-foot building with 233 studio units, 50 one-bedroom units and 13 two-bedroom units. Sizes would range from 410 square feet for studios to 986 square feet for the two-bedroom apartments.

Ground-floor space would be 8,000 square feet and is described as “sales” in the application, indicating a store rather than a bar or restaurant, for example, as found in many similar projects. However, the plans show that square footage split between eight smaller spaces, most of them around 900 square feet each.

Ken Turton of Turton Commercial Real Estate, which brokered the sales of 1020 21st and 2015 K St., said at the time that 2025 K St. is going to be sold as well, but with a long escrow. The application notes the separate ownership for that parcel.

Source: Sacramento Business Journal

MARRS building in Midtown listed for sale

Published on April 13, 2022

The MARRS building, a two-story adaptive reuse project of retail and office space, is being listed by Turton Commercial Real Estate for $21.75 million. “Everything we think about Midtown is embodied in MARRS,” said Ken Turton, whose boutique commercial brokerage was in the building on 20th and K’s northwest corner from 2010 to 2014.

Turton said retail space in the building, including some currently available, is always hotly sought after. But Heller Pacific President Mike Heller and project partner Mark Friedman want tenants who both complement the others and provide something unique, Turton said.

Source: Sacramento Business Journal

Pizza restaurant planned for former Old Sacramento saloon

Published on May 6, 2022

Frankie’s Pizza will occupy an approximately 4,000-square-foot space at 200 K St. in Old Sacramento. The restaurant is being opened by father and daughter Frank and Marissa Bell.

Jack Scurfield of Turton Commercial Real Estate, who along with his colleague Patrick Stelmach represented the landlord in the deal, said the space has been vacant for over a decade.

The plan is for the restaurant to be open seven days a week, from about 10:30 a.m. to 10 p.m., though hours of operation are still being determined.

Source: Sacramento Business Journal

Asian American restaurant planned for Midtown Sacramento

Published on February 17, 2022

An Asian American restaurant is planned for a Midtown Sacramento commercial building most recently occupied by a home decor store and gelato business. Sunny Side Restaurant will occupy 1221 19th St. in Sacramento, an approximately 2,200-square-foot building near the corner of Capitol Avenue and 19th Street.

Jack Scurfield, a director with Turton Commercial Real Estate, said the former tenants of the building were Devine Gelateria & Cafe and home decor chain AR Workshop, which both had ceased operations out of the building by the start of the year. Scurfield, along with his colleague Scott Kingston, represented both the tenant and the landlord in the deal.

Source: Sacramento Business Journal

Spotlight on John McCallum, Turton Commercial Real Estate

Published on February 7, 2022

A commercial real estate veteran, John McCallum has joined boutique brokerage Turton Commercial to specialize in financing deals.

Why did you decide to make the move to Turton?

I’ve been with MacLaughlin & Co. as a borrower advocate and broker since 2010. It’s about the exposure here, and the marketing and, honestly, the challenge in building a team. I want to pass along what’s been freely given to me. And I can continue to advocate for borrowers, because I don’t work for banks.

Source: Sacramento Business Journal